Penshoppe Group Announces Leadership Transition

Golden ABC Inc. (GABC), the parent company of fashion brands Penshoppe, OXGN, ForMe, Memo, Regatta, and Bocu, has announced a major leadership transition effective January 1, 2025.

After nearly three decades as chief executive officer (CEO), Bernie Liu will step down to focus on his role as executive chairman of both GABC and its holding company, LH Paragon Inc. (LHPI).

Alice Liu Steps Up as CEO

Replacing Bernie as CEO will be his wife, Alice Liu, who has served as the company’s president and chief operating officer (COO) since March 2023. Alice will retain her position as president while assuming the CEO role, as part of the company’s two-year succession plan.

“As we embark on this new chapter as a company, I am confident that under Alice’s leadership, we will continue to fulfill our purpose of inspiring greatness—through the work we do, the communities we serve, and the brands we are building—while striving toward our vision,” Bernie said in a statement.

Alice expressed enthusiasm for her expanded role, highlighting the company’s dedication to innovation and customer engagement:
“The past two years have been a transformative journey for Golden ABC, and I am excited to lead our talented team toward an even brighter future.”

Plans for Growth

Golden ABC plans to expand aggressively by opening up to 100 new stores annually, focusing primarily on areas outside Metro Manila to broaden its nationwide presence.

This transition marks an exciting new phase for the company, which remains a key player in the Philippine fashion industry.